100 percent required by law for certain sized loads. Sometimes two of them are mandated. Isn't that awesome? The state forces people to pay for your services! That's my kind of customers.
Rates are crashing and fuel to the moon!
Discussion in 'Ask An Owner Operator' started by Kenworth6969, Mar 3, 2022.
Page 218 of 793
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77fib77 and ProfessionalNoticer Thank this.
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What I don't get is how can you give a loan out with interest less than inflation rate? I mean they can, that's how, but it's counter intuitive to me. I believe the bond market has something to do with rates too.
You could YouTube it and sift thru the various opinions.BeHereNow97 Thanks this. -
It's the overnight lending rate between banks is what I keep hearing on business news for the last 25 years. What the bank charges the consumer is a little different. BUT. The fed rate does have a part in it.
Think. Different banks having different credit card rates. Then. You have your credit score also a factor.
Mortgage rates started going up last year with the 2 year T note. Long before the fed rate. I don't know why the two play together but apparently they do. That was also on business news last year.
Trump wanted zero interest and look what happens. People buy everything they can on the lower interest. Demand outpacing supply. Who wouldn't want to finance on the lowest rates we'll ever see in our life. Throw in covid and supply chain issues and everything else that goes with the manufacturing and delivering of goods.
The perfect storm for inflation. That started with Chinese Tariffs 5 years ago.
As for trucks. I don't know if prices are coming down yet but I'm starting to see some inventory on the dealer lots.BeHereNow97 and gentleroger Thank this. -
Yes, the Fed rate influences everything, but only indirectly. Yes, your truck loan rate will go up because the cost of funds of the banks go up. They lend money their depositors given them. Now they have to offer higher interest rates to attract depositors, so they have to charge higher rates to borrowers.
interestingly, many consumer debt instruments like credit cards and HELOCs are linked to the LIBOR (London Inter Bank Offered Rate) rather than the US Prime Rate.Oxbow, BeHereNow97 and 77fib77 Thank this. -
Truck prices are a function of supply/demand and cost to build. Recently (the past year plus), there has been near zero supply because of component shortages, so prices skyrocketed. As freight has dried up in the last six months, demand for trucks has softened but still oupaces supply. Prices have moderated some, but are still at extreme levels. The supply chain problem for components is improving but is not fixed. A fully functioning supply chain and continued slowing economy will ultimately bring truck prices down, though not to prior levels.BeHereNow97, 77fib77, Dadetrucking305 and 2 others Thank this. -
Opus, JonJon78, Dadetrucking305 and 3 others Thank this.
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Front escort will check for upcoming issues ie: cars broke down on the side of the road, Incoming traffic from on ramp, low bridge heights etc.
Rear escort will run block for you and will let you know when traffic is coming up to pass.
Very helpful to have them their worth the couple bucks a mile to have.Last edited: Jun 30, 2022
Midwest Trucker, D.Tibbitt and TallJoe Thank this.
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